The Financial Express

Amended bank law allows four family members on board

Parliament passes the Bank Company (Amendment) Bill, 2018

| Updated: January 18, 2018 10:54:58

Amended bank law allows four family members on board

Four members of a family instead of existing two now can be inducted in the board of directors of a bank at a time.

The parliament on Tuesday approved the Bank Company (Amendment) Bill 2018, keeping this provision.

The law also empowers a person to hold the post of a director of a bank for nine years continuously instead of current three years.

Finance Minister Abul Maal Abdul Muhith moved the bill in the House with a view to bring some changes in the process of nomination to the top positions of the bank and tenure of the directors.

The minister said this bill would bring changes to realise a long-run demand of the private bank owners particularly the promoters.

Later, the parliament passed the bill with voice votes with Deputy Speaker M Fazley Rabbi Miah in the chair.

Meanwhile, BSS says, Industries Minister Amir Hossain Amu proposed the “Bangladesh Small and Cottage Industries Corporation Bill, 2016” to withdraw from the House under the rule 93 of the Rules of Procedure of the parliament.

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